Natural Gas (NG1) Down 6.87%; Breaks Below 50 Day Average
Margins to ship the fuel have been narrowing for almost a year, starting with an unusually warm winter in europe and asia in 2019 that cut the need for fuel during the heating season….
(Last Updated January 18, 2021)
Welcome to the news page for Natural Gas (NG1). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
On NG1, there is currently an uptrend on the 90, 30 and 14 day timeframes.
The moving averages on NG1 summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 50 are bullish, implying a upward trend, save for a fall that occurred about 7 weeks ago. Moreover, it should also be noted that the 20 SMA just turned bullish today.
The chart below illustrates.
At the moment, NG1’s price is up $0.04 (1.37%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NG1 has now gone up 4 of the past 5 weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows NG1’s price action over the past year.
Margins to ship the fuel have been narrowing for almost a year, starting with an unusually warm winter in europe and asia in 2019 that cut the need for fuel during the heating season….
Margins to ship the fuel have been narrowing for almost a year, starting with an unusually warm winter in europe and asia in 2019 that cut the need for fuel during the heating season….
The rio grande lng facility would be one of the largest in the country….
The rio grande lng facility would be one of the largest in the country….
I spent a lot of time comparing the price of natural gas to oil (on an energy equivalent basis).
I spent a lot of time comparing the price of natural gas to oil (on an energy equivalent basis).
I spent a lot of time comparing the price of natural gas to oil (on an energy equivalent basis).
Out of the 6 instruments in the energy commodity asset class, natural gas ended up ranking 2nd for the day in terms of price change relative to the previous day.
Natural gas outperformed all 6 assets in the energy commodity asset class since the day prior.
With $101 billion in average annual revenues, canada’s oil and gas industry is the largest industry in canada….